The headline in the San Jose Mercury News on August 20, 2015 -
"Home Sales Hit 10-Year High,"
is the paper's attempt to "inform" the public of current Real Estate trends. Unfortunately, the information provided isn't really news if you've been receiving my J-Mail market updates. Those applying the recommendations and information in the J-Mails have successfully sold or purchased homes.
It's very, very helpful to have a 3 to 4 month head start on facts that will give you an advantage in buying or selling your home.
Moving forward, the secondary market, the second highest concentration of home sales after the spring March/April primary market, should begin in mid September to Thanksgiving, if there is a secondary market? More on this in a fall J-Mail.
Even with the recent market correction and China's financial unrest, the Federal Reserve seems determined to raise rates. This increase, if it occurs, should be small and incremental, not a large market killer.
However, human nature will likely follow one of two courses. Some folks will hope that rates will go back down to 3% so they can feel comfortable about their rate.With no action, these buyers may miss the buyer market entirely. Other folks will see a rate increase as a sign to get "moving"
to find and buy their new home.
"Negotiating for your success!"